capital gains - money in house sale

Lifetime Capital Gains Exclusion on Primary Residence

Everyone who owns a home that is their primary residence is entitled to a lifetime exclusion on taxable gains from the sale of their primary residence of $250,000 for individuals and $500,000 for a couple. The taxable gain exclusion requirements are: The home was your primary residence for two out of the last 5 years You’ve owned the home for …